Day 1 - Tuesday, November 15, 2016

8:00
Registration, Refreshments and Networking
9:00
Opening Remarks from the Chair
9:15
OPENING KEYNOTE and Q&A
Toughening the UK’s Sanctions Enforcement Regime and What it Means for Financial Institutions
10:00
“A Year in Review”: In Conversation with the Regulators on Global Priorities
11:00
Refreshments and Networking
11:30
The Latest Legal Developments in Sanctions Law, Including the Impact of Brexit
12:00
Strengthening Sanctions Compliance Programme to Capture New Risks and Prepare for What may Lie Ahead
1:00
Networking Luncheon
2:00
Iran: Dismantling Punitive Measures; Mitigating New Risks; Challenging Sanctions
3:00
Hot Topic: The Impact of Iran Sanctions Relief on the Insurance and Reinsurance Industry
4:00
Refreshments and Networking
4:15
What to Watch out for from a Sanctions Perspective in M&A Deals
4:45
Champagne Roundtables – Networking Drinks Roundtables
5:45
Forum Adjourns

Day 2 - Wednesday, November 16, 2016

8:15
Morning Refreshments and Networking
9:00
Opening Remarks from the Chair
9:15
Enforcing Sanctions Screening Protocols Amid Fast Evolving Regulation
10:00
Effective Implementation of Financial Sanctions and Asset Freezing Measures
10:30
Refreshments and Networking
11:00
New Customer Due Diligence (CDD) and Beneficial Ownership Disclosure post Panama Papers
12:00
Networking Luncheon
1:00
Deploying Best Practices and Supporting Processes to Drive Better Investigation Outcomes
2:00
Addressing Sanctions Risks in Trade Finance and Export Controls
3:00
Refreshments and Networking
3:30
Country Risk Assessment: Identifying High Risk Jurisdictions According to Money Laundering
4:00
Preventing and Mitigating Rapidly Growing Risks of Terrorist Finance
4:30
Chair’s Closing Remarks

A COMPLETE GUIDE ON MITIGATING COMPLIANCE RISKS RELATED TO IRAN SANCTIONS POST-IMPLEMENTATION DAY

Nov 17, 2016 9:00am - 12:00pm

Speakers

Sophie van Til Leedham
Head of Financial Crimes Group
AIG EMEA

Simon Wilkin
Head of Financial Crime Group
SMBC Europe Limited

YOUR STEP-BY STEP GUIDE TO THE SANCTIONS FRAMEWORK: HOW SANCTIONS ARE MADE, THE LISTING PROCESS; COMMON FEATURES AND COMMON AMBIGUITIES, AND HOW TO CHALLENGE SANCTIONS OR DELISTING

Nov 17, 2016 1:00pm - 4:00pm

Speakers

Maya Lester
Barrister
Brick Court Chambers

Roger Matthews
Senior Director | Solicitor (England and Wales)
Dechert LLP (UK)

Day 1 - Tuesday, November 15, 2016

8:00
Registration, Refreshments and Networking
9:00
Opening Remarks from the Chair

Aga Polcyn
Financial Crime Counsel
Morgan Stanley

9:15
OPENING KEYNOTE and Q&A
Toughening the UK’s Sanctions Enforcement Regime and What it Means for Financial Institutions

David McLean
Deputy Head and Head of Compliance and Operations
OFSI, Office of Financial Sanctions Implementation, HM Treasury (UK)

  • Key changes to the UK’s sanctions regime under proposed Policing & Crime Bill
  • Increasing and harmonising criminal penalties for non-compliance: OFSI’s enforcement tools
  • Alternative enforcement tools:
    • Deferred Prosecution Agreements (DPAs)
    • Serious Crime Prevention Orders (SCPOs)
    • New monetary penalties regime
  • Q&A

10:00
“A Year in Review”: In Conversation with the Regulators on Global Priorities

Discussion Leader:

Roberto J. Gonzalez
Partner and Former Deputy General Counsel of the U.S. Treasury Department
Paul, Weiss, Rifkind, Wharton & Garrison LLP (USA)

Speakers include:

Jamie Rose
Deputy Chief, Regulated Industries Oversight & Evaluation Sanctions, Compliance & Evaluation Office of Foreign Assets Control (OFAC)
U.S. Treasury Department

Maud Bökkerink
Financial Supervisor AML/CFT, Integrity
De Nederlandsche Bank

  • Key investigations, major enforcement actions and settlements related to Iran, Russia, Sudan, Cuba, Myanmar and North Korea
  • How do governments monitor compliance with sanctions? What types of offences and violations can trigger an investigation?
    • What US banks are and aren’t able to do with these jurisdictions in general?
    • What foreign subsidiaries of US banks can and can’t do in these jurisdictions
    • When can banks be held liable in connection with their clients’ transactions?
  • How to mitigate the risk of further penalties
  • Where is the sanctions regulatory agenda heading next: top priorities for 2017 and beyond
  • Q&A

11:00
Refreshments and Networking
11:30
The Latest Legal Developments in Sanctions Law, Including the Impact of Brexit

Maya Lester
Barrister
Brick Court Chambers

  • Recent updates on case law on sanctions
  • Implications of Brexit for sanctions

12:00
Strengthening Sanctions Compliance Programme to Capture New Risks and Prepare for What may Lie Ahead

Discussion Leader

Aga Polcyn
Financial Crime Counsel
Morgan Stanley

Speakers include:

Eric McClafferty
Partner
Kelley Drye & Warren LLP (USA)

Haydn Main
Head of Legal
Renaissance Capital

Nathalie von Taaffe
EMEA Head of Anti-Corruption & Sanctions
Credit Suisse

  • What do financial institutions see as the next set of sanctions compliance challenges
  • What internal compliance procedures must be put in place to respond to an increased focus on enforcement and limit exposure:
    • Ensuring senior management engagement
    • Monitoring key local and international law obligations
    • Setting up training
  • What forms of protection should be included into contracts and transaction documents to cover current and/or future sanctions?
  • Developing a robust and well-run sanctions violationincident response plan and handling reputational damage once you’ve been subject to a high profile fine
  • Steps to monitor and anticipate possible future sanctions

1:00
Networking Luncheon
2:00
Iran: Dismantling Punitive Measures; Mitigating New Risks; Challenging Sanctions

Discussion Leader:

Mike Adlem
Partner and MENA Leader, Fraud Investigation & Dispute Services
EY (Middle East)

Speakers include:

Sarosh Zaiwalla
Senior Partner
Zaiwalla & Co Solicitors

Sophie van Til Leedham
Head of Financial Crimes Group
AIG EMEA

Guy Soussan
Partner
Steptoe & Johnson LLP ( Belgium)

  • Unsynching US and EU sanctions against Iran: What residual restrictions are still in place? Who do these apply to?
  • Enforcement risks of proposed Iran-related activity: Penalties and recent OFAC enforcement actions
  • Highlighting the difficulties in the continued application of US primary sanctions and
    • General License H (and the challenges this poses)
    • Continued use of sanctions clauses
    • Continued SEC Section 219 reporting
    • Transparency to clients, dealing with banks, recusal policies for US Persons, Iran crude shipments going around the world
  • Pursuing damages against current Government listings
  • Update on sanctions cases in the European court
  • What types of transactions can put you at risk of further fines and/or loss of dollar clearing licence?

3:00
Hot Topic: The Impact of Iran Sanctions Relief on the Insurance and Reinsurance Industry

Discussion Leader

Susan Leddy
Head of Financial Crime Risk Group Operations, Director Legal & Compliance
Swiss Re

Speakers include:

Michael Zolandz
Partner
Dentons (USA)

Dirk Wegener
Vice President
FERMA

Marie Bolton-Jones
Group Director of Financial Crime
Willis Towers Watson

  • Payment obligations with Iranian or Iran-related entities in connection with claims and covers: How to find a bank willing to process payments related to Iran
  • USD-denominated contracts and premium splits: views and clashes within the industry
  • Due diligence: Some golden rules – do’s and don’ts to satisfy the regulators and protect yourself
  • Contractual questions: Are sanctions clauses enough? Consequences on standard capital markets sanctions reps and warranties ?
  • What does the future hold – crystal ball or a clear road ?

4:00
Refreshments and Networking
4:15
What to Watch out for from a Sanctions Perspective in M&A Deals

Tahlia Townsend
Partner
Wiggin and Dana (USA)

  • Sanctions-related liability in M&A transactions

4:45
Champagne Roundtables – Networking Drinks Roundtables

Be part of informal thought leadership discussions with your peers as you end the day sharing your views, concerns and visions regarding the future of the industry

  • Iran
  • Due Diligence and UBO
  • Trade Finance and Export Controls
  • Compliance Programs and Internal Investigations

5:45
Forum Adjourns

Day 2 - Wednesday, November 16, 2016

8:15
Morning Refreshments and Networking
9:00
Opening Remarks from the Chair
9:15
Enforcing Sanctions Screening Protocols Amid Fast Evolving Regulation

Speakers include:

Karen Walter
Director, Head of Economic Sanctions Unit, Group Legal & Compliance
Allianz Group

David Marshall
Associate Director, UK Compliance
NIBC N.V. London Branch

Aga Polcyn
Financial Crime Counsel
Morgan Stanley

  • A risk based approach to sanctions and PEP screening
  • Keeping the multitude of lists up-to-date and ensuring prospective clients and account holders are properly screened against these lists
  • What to do once a hit is discovered. When to contact the authorities?
  • Tailoring global sanctions screening protocols to your operations
  • Measuring the functionality and effectiveness of your screening protocol. Customising screening criteria to the risks posed by particular transactions and financial products
  • Screening cross-border transactions
  • Record of screening policy: timescales, frequency, resolution of matches and reporting

10:00
Effective Implementation of Financial Sanctions and Asset Freezing Measures

Michael Zolandz
Partner
Dentons (USA)

Roberto J. Gonzalez
Partner and Former Deputy General Counsel of the U.S. Treasury Department
Paul, Weiss, Rifkind, Wharton & Garrison LLP (USA)

  • What means of control should be put in place to prevent breaches of sanctions prohibitions
  • Existing frameworks and legal remedies related to confiscation, asset freezing and frozen asset management: International standards and best practices
  • Outlining effective prevention and detection procedures: focus on customer relationships/transactions
  • Detecting the areas where dealings with a sanctions target is possible
  • How valuable are DPAs as a tool for resolving sanctions in the UK
  • What conditions must be met to qualify for suspension of proceedings, and avoiding possible criminal liability
  • Key concerns about DPAs vs civil sanctions

10:30
Refreshments and Networking
11:00
New Customer Due Diligence (CDD) and Beneficial Ownership Disclosure post Panama Papers

Discussion Leader:

Nancy A. Fischer
Partner
Pillsbury Winthrop Shaw Pittman LLP (USA)

Speakers Include:

Marios Skandalis
Director Group Compliance, Group Compliance Division
Bank of Cyprus (Cyprus)

Rachel Sexton
Partner, Fraud Investigation & Dispute Services
EY (UK)

  • New company ownership information sharing requirements
  • Tips and recommendations to develop a risk profile for each customer
  • What to look for when analysing customer relationships
  • When and how to facilitate proper reporting of suspicious activities
  • Assessment of risk and red flags
  • AML compliance screening

12:00
Networking Luncheon
1:00
Deploying Best Practices and Supporting Processes to Drive Better Investigation Outcomes

Speakers include:

Chiawen Kiew
Principal Investigations Manager, Office of the Chief Compliance Officer
EBRD

Rasoul Golparvar
Assistant Director, Fraud Investigation & Dispute Services
EY (UK)

  • Key behaviours and processes for successful investigations:
    • Establishing governance
    • Assessing risk
    • Managing internal and external resources and stakeholders
  • How to manage investigations imposed by Multilateral Development Banks and International Financial Institutions (IFIs)
    • Investigative protocols on sanctions
    • How investigations are conducted – managed outcomes, conclusions, closure and governance
    • Enforcement of debarment decisions
  • Best practices for robust, cost-effective and group-wide processes to monitor client activity for possible connections to money laundering and high-risk terrorist financing entities
  • Integrating people, processes and software protocol solutions into a coherent deployment
  • Practical solutions for deploying automated and manual screening systems across the sanctions and financial crime domains
  • Managed outcomes: conclusion, closure, and governance

2:00
Addressing Sanctions Risks in Trade Finance and Export Controls

Discussion Leader:

Ali Rathod-Papier
Legal Counsel, Group Financial Crime Legal
Barclays Bank PLC

Speakers Include

Maud Bökkerink
Financial Supervisor AML/CFT, Integrity
De Nederlandsche Bank

Naidira Alemova-Goeres
Partner
Fraud Investigation & Dispute Services EY (Germany)

David Whitehouse
Head of Trade & Export Controls, Group Legal Compliance
Johnson Matthey (London)

  • What are the main challenges in trade finance and why should you be paying attention to these risks?
  • What does the future of export controls in the trade finance context look like?
    • Enforcement
    • The relationship with regulators

3:00
Refreshments and Networking
3:30
Country Risk Assessment: Identifying High Risk Jurisdictions According to Money Laundering

Selvan Lehmann
Project Manager Basel AML Index / AML/CFT Specialist
Basel Institute on Governance (Switzerland)

  • Challenges in creating a country risk assessment in view of the Basel AML Index
  • Identifying high risk countries according to ML/TF risks
  • How to deal with sanctioned countries in your risk assessment?
  • Assessing the advantages and limitations of country risk assessments and what can be done beyond country risk ratings

4:00
Preventing and Mitigating Rapidly Growing Risks of Terrorist Finance

Richard Wall
Money Laundering Reporting Officer
Bank Leumi (UK) Ltd

Counter Terrorist Financing (CTF) is a complex area for financial crime prevention and yet so often overlooked in the industry as merely controls of the Al-Qaeda sanctions. This session will discuss why it is important to adopt a holistic approach to possible red flags throughout all aspects of FCP: on-boarding, ongoing monitoring, redemptions and closures

  • Overview of major terrorist groups, and “lone wolfs”: How do they operate? How are they are financed?
  • Insights of the geopolitical landscape
  • Best practice for detecting and managing the risks of terrorist finance:
    • Risk assessment
    • Third party relationships, including your correspondent networks
    • Social media monitoring
  • Leveraging existing AML controls to strengthen CTF

4:30
Chair’s Closing Remarks

A COMPLETE GUIDE ON MITIGATING COMPLIANCE RISKS RELATED TO IRAN SANCTIONS POST-IMPLEMENTATION DAY

Nov 17, 2016 9:00am - 12:00pm

£500

Speakers

Sophie van Til Leedham
Head of Financial Crimes Group
AIG EMEA

Simon Wilkin
Head of Financial Crime Group
SMBC Europe Limited

What is it about?

9.00 – 12:00 (REGISTRATION BEGINS AT 8:45)

Dismantling a complex web of restrictive measures against Iran creates new responsibilities and significant new areas of regulatory and compliance risks. Attend this advanced, highly focused workshop and receive thorough guidance on hugely topical areas of careful management of your compliance program; testing your due diligence processes and ensuring proper procedures are in place and on par with the latest expectations of enforcement agencies.

  • What type of transactions can put your organisation at risk of further fines and/or loss/suspension of the dollar clearing licence?
  • What procedures must be put in place to ensure robust due-diligence and screening to avoid indirect breach?
  • Where and how to obtain information on Iranian counterparties (and their corporate structures) within a non-transparent environment?
  • Who can and can’t enter into transactions with the Government of Iran?
  • What activities must be disclosed to regulators under the US SEC reporting requirements? How often?
  • Dealing with the risk of possible “snap backs”: What sanctions/exclusion clauses and right of terminations should be used at the documentation drafting stage?
  • Processing Iran-related transactions: What should your compliance efforts entail in order to reflect the new reality?
  • Assessing money laundering, terrorism financing and corruption risks

About Your Workshop Leaders:

Simon Wilkin is responsible for all matters relating to antimoney laundering, financial crime, anti-bribery and corruption and sanctions. He has been with SMBCE since December 2012. Prior to SMBCE Simon was the MLRO for Crédit Agricole Corporate and Investment Bank London Branch for two years until December 2012 and Investec Bank plc for 8 years until December 2010. Previously Simon served as a Detective for 13 years with the Metropolitan Police Service; his last positing was with the Fraud Squad at New Scotland Yard.

Sophie van Til Leedham has over 20 years of experience in the insurance industry, most notably in the areas of financial sanctions, AML, insurance law, general commercial law and data privacy. She and her team assist all business functions with sanctions and export control queries, as well as advise on AML and Anti Bribery and Corruption matters, working closely with the local compliance officers in the various countries. She is also responsible for the sanctions screening processes in EMEA. Prior to joining AIG, Sophie was Corporate Counsel and Data Privacy Officer for Chubb Insurance in Europe. She is a qualified lawyer in the UK, The Netherlands and the U.S. (in Connecticut and New York).

YOUR STEP-BY STEP GUIDE TO THE SANCTIONS FRAMEWORK: HOW SANCTIONS ARE MADE, THE LISTING PROCESS; COMMON FEATURES AND COMMON AMBIGUITIES, AND HOW TO CHALLENGE SANCTIONS OR DELISTING

Nov 17, 2016 1:00pm - 4:00pm

£500

Speakers

Maya Lester
Barrister
Brick Court Chambers

Roger Matthews
Senior Director | Solicitor (England and Wales)
Dechert LLP (UK)

What is it about?

1.00 – 3.30 (REGISTRATION BEGINS AT 12:45)

To be able to implement and document robust and comprehensive compliance policies and programmes, financial institutions must understand how sanctions measures work.  This workshop will provide you with information on listing and delisting procedures, and on the design and enacting of sanctions measures.  It will cover:

 

  • Key sanctions instruments;
  • The EU process for enacting sanctions measures;
  • The listing process and due process;
  • Common features of EU sanctions regimes, and common ambiguities;
  • Challenging sanctions – when, where, by whom, how and on what basis?
  • Administrative reviews, UN ombudsman procedures and other non-court mechanisms for challenge;
  • Impact of sanctions on subsidiaries and controlled companies – can they challenge?
  • What happens if you succeed in a challenge? Does it lead to automatic delisting?
  • Using court challenges to resolve and interpret sanctions ambiguities.

 

Is there a role for national courts and authorities?

  • The role of the EU and Member States in EU sanctions policy and application.

 

About Your Workshop Leaders:

Maya Lester QC has a particular expertise in the law relating to economic sanctions. As the most recent Chambers & Partners (2016) put it, she “owns the world of sanctions”. She founded and co-writes a blog on European sanctions law (www.europeansanctions.com) and spent 2011-12 in New York at Columbia Law School lecturing and writing on sanctions. She recently started a Brick Court Chambers blog on the legal issues arising out of Brexit (brexit.law)

Roger Matthews has extensive international and EU sanctions experience and brings a wealth of previous experience on sanctions law and policy, having served as a European Commission policy officer, drafting sanctions regulations, representing the European Commission in Council negotiations on sanctions with EU Member States and engaging with the United Nations. Before that he served in the HM Treasury sanctions unit where he focussed on sanctions licensing and implementation. He also specialises in EU law and practice, including trade and services regulation, (financial services regulation) and all issues relating to Brexit.

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